Pursuits
Poloz Gives Nod to Recovery Amid ‘Encouraging’ Economic Data
- Bank of Canada changes its language in stand-pat rate decision
- BMO sees balance shifting more toward raising than cutting
Loonie Surges on Bank of Canada's Hawkish Tilt
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The Bank of Canada gave a nod to improving economic data in a shift that appears less dovish after almost two years of unchanged interest rates.
While Governor Stephen Poloz left the benchmark interest rate at 0.5 percent Wednesday, he added new language stating “the current degree of monetary stimulus is appropriate at present.” Policy makers also said Canada’s adjustment to the oil price decline is “largely complete” and that “recent economic data have been encouraging” -- with a “robust” labor market driving consumer spending and housing.